A taxi service is to be initiated. Revenues of $4 million per year are expected for each of the…

A taxi service is to be initiated. Revenues of $4 million per year are expected for each of the first ten years, and $7 million per year for each of the following ten years. The expenses are estimated at $3.5 million annually for each of the twenty years of the analysis period.

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What is the present worth of the business? Use interest = 10% If the business can be sold for $10 million at the end of twenty years, what is the present worth of the business?